Economy Lok Sabha passes Finance Bill 2020 Finance Minister Nirmala Sitaraman introduced Finance Bill, 2020 in the Lok Sabha Union Budget 2020-21 will come into effect after passing of the bill Finance bill 2020 has abolished Dividend Distribution Tax. Quick Facts: Finance Bill is a Money Bill as defined in Read more…
Economy Visa Virtual Debit Cards by Paytm Paytm Payments Bank Ltd (PPBL) announced issuing of Visa debit cards to its customers. This will enable customers to transact at all merchants accepting payments through cards An optional physical card will support contactless payment through chip-inserted cards Quick Facts: Paytm is the Read more…
Environment World Sparrow Day observed on 20th March Every year March 20 is observed as World Sparrow Day to raise awareness about the bird. The need for this day was felt due to the tremendous decrease in its population. Increased use of pesticides, changing house patterns, missing gardens and radiations Read more…
Miscellaneous India: Third largest producer of electricity According to International Energy Agency, India is the third largest producer of electricity in the world. However, it ranks 106th in terms of per capital consumption of electricity. This is because though India has surplus power, the country lacks adequate infrastructure to supply Read more…
Economy Forex Swap and LTRO suggested by RBI governor Forex Swap and LTRO have been suggested to increase liquidity in India Forex Swap: RBI will lend companies US dollars, in return of equivalent rupees from them, during a six-month dollar buy-sell dollar swap window. The companies will return the borrowed Read more…
Economy Ambiguities to be removed in Modified New Pricing Scheme-III The Modified NPS scheme-III was launched in 2014 to boost Make in India campaign. The Modified NPS aimed to achieve self-sufficiency in urea production. The Scheme included incentives to the domestic urea manufacturers, encouragement of investment in urea production sector Read more…
Art and Culture Odisha’s Chaitra Jatra Festival cancelled due to COVID19 The Chaitra Jatra festival is celebrated on tuesdays of Chaitra month. The festival is celebrated at Tara Tarini hill shrine. The shrine is located in the Tara Tarini hill on the banks of Rushikulya river. Quick Facts: The Rushikulya Read more…
India and the World India proposes COVID-19 Emergency Funds at SAARC On March 15, 2020, SAARC leaders participated in a video conference to frame a strategy in order to fight Corona Virus. India proposed creation of a COVID-19 Emergency Fund India will also set up a disease surveillance portal in Read more…
Government Schemes Parliament passes Direct Tax Vivad Se Viswas Bill, 2020 The bill aims to reduce the number of litigations that are associated with direct tax payments. Under the bill, if tax payment is made after March 31, 2020, the tax payer has to pay 110% of the disputed tax. Read more…
Economy Insolvency and Bankruptcy Code (amendment) bill passed by the Parliament The amendment aims to protect the successful bidders of insolvent companies from risk of criminal proceedings. The criminal proceedings may be expected from previous promoters of the company. The amendments were earlier introduced as ordinances Quick Facts: Article 123 Read more…